Vaughn, Inc.'s comparative income statement follows. The 2023 data are given as needed. (Click the icon to view the data.) Read the requirements. Data Table Requirement 1. Calculate the profit margin ratio for 2025 and 2024. Begin by selecting the formula to calculate the profit margin ratio. Profit margin ratio Vaughn, Inc. Comparative Income Statement Years Ended December 31, 2025 and 2024 2025 2024 2023 $ 188,000 $ 156,000 94,000 85,500 Net Sales Revenue Cost of Goods Sold Selling and Administrative Expenses Interest Expense Income Tax Expense 50.000 44,000 8.500 11,500 11.000 13,000 $ 22,500 $ 4,000 Net Income Additional data: Total Assets Common Stockholders' Equity $ 208,000 $ 193,000 $ 169,000 91,500 86,000 81,000 Preferred Dividends 2,500 0 2,500 25,000 Common Shares Outstanding During the Year 25,000 20,000